The most tepid of blows for democracy was struck this week when the president of the European Commission, Jean-Claude Juncker, reversed himself and declared that the parliaments of the EU member states will vote on the “free trade” deal with Canada after all. Only a week earlier, President Juncker had dismissed the idea of any democratic input, insisting that the deal would be unilaterally approved by EU ministers … //
… Consultation process is window-dressing:

The European Commission’s antipathy to democracy is also par for the course. The EU trade office, the European Commission Directorate General for Trade, set up a process of public consultation, but seems to have not paid any attention to it. A spokesman for the watchdog group Corporate Europe Observatory said of this window-dressing “consultation”: … //

… Building on NAFTA’s anti-democratic principles:

No different from the qualifications deemed necessary in existing “free trade” agreements or those proposed in the Trans-Pacific and Transatlantic partnerships. The wording guarantees that corporate lawyers or academics who specialize in existing tribunals and who have adopted the mindsets of their clients will adjudicate these decisions — in other words, a steady stream of decisions elevating the right of a corporation to make the maximum possible profit above all other human considerations. This dynamic has to led to NAFTA becoming a lose-lose-lose proposition for working people in Canada, the U.S. and Mexico, and CETA will accelerate this trend.

A report on the ramifications of CETA, prepared by Maude Barlow, says: … //

… Pressure will be brought to bear to privatize water systems and other public utilities, and pharmaceutical prices for Canadians will rise significantly — costing as much as C$1.6 billion per year. As is customary with “free trade” agreements, there are no limitations on who or what constitutes an “investor.” The rights of corporations are delineated over hundreds of pages, but the chapters that deal with labor, health, safety and environmental standards use the usual provisional language. For example, in Chapter 21.7, “The Parties endeavour to cooperate and to share information on a voluntary basis in the area of non-food product safety.” When it comes to corporate demands, however, “must” and “shall” are the words used.

CETA, like its cousins TTP and TTIP, would cement into place the right of multi-national corporations to dictate to governments without any democratic input. This would be irreversible. Worse, the approval of CETA would provide fresh momentum for TPP and TTIP. We have no time to waste.

Central Bank Buying Puts Squeeze on Bond Market, on WSJ, by Ming Zeng and Christopher Whittall, July 6, 2016:
A buying spree by central banks is reducing the availability of government debt for other buyers, intensifying bidding wars when investors get jittery;

India: Gains from sale of inherited house taxable as capital gains, on live mint, by Parizad Sirwalla, July 6, 2016: in case of an inheritance, the cost of acquisition should be the cost at which the previous owner who actually acquired the property other than by inheritance or gift, as increased by cost of improvement made later;